Domestic equity benchmarks posted robust gains on Monday as investors built up fresh positions in the special one-hour <keyword id="459249" type="General" weightage="20" keywordseo="muhurat-trading" source="Orion">Muhurat trading</keyword> session to mark the beginning of Hindu <keyword id="468473" type="General" weightage="20" keywordseo="Samvat" source="Orion">Samvat</keyword> year 2079. Extending its gains to the seventh straight session, the 30-share <keyword id="35140" type="General" weightage="80" keywordseo="bse" source="Orion">BSE</keyword> <keyword id="6484188" type="General" weightage="100" keywordseo="sensex" source="Orion">Sensex</keyword> jumped 524.51 points or 0.88 per cent to close at 59,831.66. On similar lines, the broader NSE <keyword id="6354813" type="General" weightage="80" keywordseo="nifty" source="Orion">Nifty</keyword> advanced 154.45 points, or 0.88 per cent, to finish at 17730.75. In the Sensex kitty, prominent gainers were Nestle India, ICICI Bank, L&amp;T, SBI, HDFC, HDFC Bank and Dr Reddy's, spurting as much as 2.92 per cent. Only two counters closed in the red -- Hindustan Unilever and Kotak Mahindra Bank, shedding up to 3.05 per cent. Brokers said buying activity gathered momentum as investors opened their new books in the first session of <keyword id="15090161" type="General" weightage="20" keywordseo="Samvat-2079" source="Orion">Samvat 2079</keyword>. Global equities were largely in the positive territory following strong gains on Wall Street on Friday. Elsewhere in Asia, markets in Tokyo and Seoul closed in the green, while Shanghai and Hong Kong plunged up to 6.36 per cent, posting their worst day in over a decade. Bourses in Europe were trading in the positive zone in the afternoon session. Barring FMCG, all BSE sectoral indices ticked higher, led by capital goods, industrials, financial services and telecom. A similar trend was seen in the broader markets, with the BSE small-cap index rising 0.99 per cent and the mid-cap gauge gaining 0.50 per cent. Domestic markets conduct a special one-hour Muhurat trading session on Diwali every year to mark the beginning of the traditional Hindu calendar year, called 'Vikram Samvat'. In the previous Samvat 2078, the Sensex dipped 464.77 points, while the Nifty shed 252.90 points. "Even though Samvat 2078 ended with marginal negative returns, the overarching feature of the year gone by was India's distinct outperformance. While the MSCI World Index and MSCI Emerging Market Index fell by 23 per cent and 33 per cent respectively, Nifty hugely outperformed with a minor cut of only 3 per cent. "This outperformance in a year of a war in Europe and rising inflation and interest rates in the developed world reflects Rising India's resilience," said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services. "From the market perspective, two factors stand out -- One, India's economic fundamentals are relatively strong. Two, DIIs and retail investors have become a force to reckon with, overwhelming the FII selling. This trend can be expected to continue," he added. The BSE and NSE will be closed on Wednesday (October 26) on the occasion of 'Diwali Balipratipada'. Meanwhile, foreign institutional investors (FIIs) net bought shares worth Rs 438.89 crore on Friday, while domestic institutional investors sold to the tune of Rs 119.08 crore, as per exchange data. SEE ALSO: <a href="https://www.businessinsider.in/international/news/rishi-sunak-named-uks-next-prime-minister/articleshow/95066996.cms">Rishi Sunak wins whirlwind race to be UK's next prime minister, taking over from Liz Truss amid economic turmoil</a> <a href="https://www.businessinsider.in/business/corporates/news/reliance-reports-a-profit-decline-in-q2-even-as-revenue-surges-33-yoy/articleshow/95017302.cms">Reliance reports a profit decline in Q2 even as revenue surges 33% YoY</a> <a href="https://www.businessinsider.in/science/space/news/isro-planning-on-sun-and-moon-missions-for-2023-along-with-commercial-launches/articleshow/95049941.cms">ISRO planning on Sun and Moon missions for 2023 along with commercial launches</a>

Sensex, Nifty sparkle as Samvat 2079 begins on auspicious note

<ul><li>Analysts remain positive of India’s growth prospect due to rising consumer spending and fall in prices of essential commodities like crude oil.</li><li>Benchmark index Sensex has lost 227 points in 2022, which is about 0.4% and has still outperformed its global peers.</li><li>Here are the most common stocks from Nifty50 recommended by broking firms including ICICIdirect, Kotak Securities, HDFC Securities, Angel One, Axis Securities and several others to invest in this Diwali.</li></ul>Samvat 2078 has been a year of some highs and many lows. Despite all odds, Indian equities have fared better than other emerging markets. Since last Diwali, the Nifty50 is down by a modest 2%, while the S&amp;P500 and the EM index are down by more than 20%. The reason for this outperformance is the maturity Indian investors have shown during the course of this year by steadfastly investing in equities, which counterbalanced the heavy selling by foreign institutional investors. Markets have been very resilient despite the ₹1.81 lakh crore foreign institutional investors (FIIs) outflow in 2022 so far. All thanks to domestic investors including mutual funds and retail investors who continued to buy throughout the year. So what’s in store for Indian investors in Samvat 2079? The year ahead is expected to be better, believe analysts, despite the looming risk of recession across developed countries in Europe and North America. The Indian economy, says Axis Securities, stands in a sweet spot of growth and remains the land of stability against the backdrop of a volatile global economy. Driving this optimism are India’s relatively stable macros and healthy corporate balance sheets. India Inc is now better placed in terms of profitability and leverage. Normal monsoons, lower commodity prices and return of demand should drive corporate profitability in the year ahead. According to strategists at Axis Securities, “Profitability across the board has improved significantly. The cumulative and rolling net profit of the NSE 500 universe for the last 4 quarters (till Q1FY23) touched an all-time high of ₹10 lakh crore and loss-making sectors, too, have turned positive and contributed notably to the net profitability. Moreover, after a muted performance for several years, ROE (return on equity) for the broader market is improving as well.” Business Insider India has examined most analysis done by brokerages across India to figure some of the broad sectors and stocks that are expected to shine in Samvat 2079. Given that banks have cleaned their books in the last few years, banking and finance stocks top the preferred list of buys for most brokerages. With revenge buying continuing through the festive season, consumer companies, quick service restaurants, listed hotel stocks and home improvement stocks, following robust real estate demand could do well. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"><colgroup></colgroup><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Indices </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">% change from Samvat 2078 to October 20 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sensex </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.8% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nifty50 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-2% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nasdaq Composite </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-34% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Dow Jones Industrial Average </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-15% </td></tr></tbody></table> “In Samvat 2079, volatility could continue, though at a slower pace. We may be close to a peak in the rate hike cycle. The domestic investment cycle is exhibiting signs of a revival and, with normal monsoons, the foundation has been laid for the economy to regain its earlier rates of growth. Indian conglomerates have pared debt and improved their balance sheets and now look ready to expand,” said analysts at HDFC Securities. Analysts remain positive of India’s growth prospect due to rising consumer spending, fall in essential commodities like crude oil prices. “We remain optimistic on India's growth prospect in the near term on the back of likely normalisation of discretionary services spending, easing supply chain, weakening of international commodity prices including crude and supportive fiscal policies,” said analysts at Kotak Securities. “However, tightening monetary conditions and capital outflows could act as headwinds. Trade deficit in FY23E will likely be at a record high,” added a report by Kotak Securities. Here are the most common stocks from Nifty50 recommended by brokerages including ICICIdirect, Kotak Securities, HDFC Securities, Angel One, Sharekhan, YES Securities, IDBI Capital and Axis Securities to invest in this Diwali. The 50-stock index covers major sectors of the Indian economy and tracks the behaviour of a portfolio of blue chip companies. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"><colgroup></colgroup><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top most common stocks to invest in this Diwali </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">% change in 2022 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Eicher Motors </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">32% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ICICI Bank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">18% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ITC </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">59% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Axis Bank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">25% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HCL Technologies </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-22% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Cipla </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">22% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Infosys </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-20% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">RIL </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">4% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HDFC Bank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-4% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Titan </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">6% </td></tr></tbody></table> Shares of New Delhi-based motorcycles and commercial vehicles company Eicher Motors has delivered 32% returns this year. Analysts believe shares of the company are expected to do well because of the company’s dominant market position in the premium motorcycle space, positive cash flow and robust export opportunities. “Eicher Motors is market leader in the &gt;250 cc premium motorcycle segment (market share ~85%+) through its aspirational models under the Royal Enfield (RE) brand, such as Classic, Meteor, etc. It has a strong net cash positive balance sheet with healthy return ratios metrics,” said a report by brokerage firm ICICIdirect. Adding to it analysts at Sharekhan say that,”Promising launch of Hunter 350, focus on core brands through refreshed launches, better customisation, robust export opportunities and expected recovery in premiumisation trend in two-wheeler industry would widen Eicher Motor Ltd’s (EML’s) addressable market and boost performance going forward.” ICICI Bank, one of the largest private lenders in the country, has become more valued than ever before as its market capitalisation crossed ₹6 lakh crore this year. The lender has witnessed a strong growth journey in the last couple of years with healthy growth and is likely to mark the same going ahead. “ICICI Bank is likely to deliver sustainable earnings growth over the medium term driven by strong loan growth, margin expansion, credit cost moderation and healthy operating profitability aided by its strong liability franchise, higher capital ratios, better asset quality metrics and healthy provision buffers,” said analysts at Sharekhan. Kolkata-based FMCG-to-cigarette conglomerate ITC has rewarded investors with strong 55% returns this year. “The recovery in the cigarette business and uptick in agri, hotels, and paperboard in the near term makes ITC a better play in the entire FMCG pack where valuations are high,” said a report by Axis Securities. Meanwhile, private sector lender Axis Bank has given 17% returns to investors in 2022 and is further expected to report strong business growth. “Robust business growth, improving operational efficiency and synergy benefits from the Citi acquisition would reflect positively on the earnings trajectory and price performance,” said analysts at ICICIdirect. Although the Indian IT sector has gone through a rough phase this year due to recession fears, the fundamentals of top IT companies are still strong. Noida‐based HCL Technologies Ltd. (HCL) is India’s third‐largest IT services exporter with a strong global presence. “At current market price, the stock is relatively trading at a discount to the other large-cap IT companies like Infosys and TCS and offers tremendous value at current levels given market leader status in Infrastructure management,” said analysts at Angel One. Lastly, Mumbai-based pharmaceutical company Cipla is another company in analysts' favourite list, which is expected to deliver strong revenue from its US business. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/personal-finance/news/should-you-buy-gold-this-dhanteras/articleshow/94997439.cms">Should you buy gold this Dhanteras?</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/thelife/personalities/news/zerodhas-co-founders-nithin-and-nikhil-kamath-donate-100-crore-in-fy22/slidelist/94991823.cms">Zerodha’s co-founders Nithin and Nikhil Kamath donate ₹100 crore in FY22</a>

If you are looking to add sparkle to your portfolio this Diwali, here are ten stocks for Samvat 2079

<ul><li>Large-cap stocks offer better reward-risk balance given more reasonable valuations say experts in their Diwali picks.</li><li>BSFI, domestic upcycle theme along with real-estate, power and infra amongst Diwali picks by brokerages.</li><li>Defence and railway stocks like MTAR Technologies, HAL, Titagarh Wagons also made it to the best <keyword id="10273453" type="General" weightage="20" keywordseo="diwali-stock-picks" source="Orion">Diwali stock picks</keyword> for Samvat 2080. </li></ul>The Diwali festive fervour is here and the Indian stock markets will soon end Samvat 2079 after hitting many milestones. Not only did the benchmark indices gain 6% during the year — Nifty touched 20,000 and Sensex surpassed 67,900. The equity markets have also shown extreme resilience in times of many geopolitical uncertainties like the Israel-Hamas conflict on top of the Russia-Ukraine war, rising inflation, sharp uptick in bond yields and more. For investors who are looking to build an auspicious portfolio for Samvat 2080, experts advise restraint and pick stocks that stand tall amidst corrections. “The recent sharp correction in stock prices may reflect growing recognition of short-term and medium-term challenges or a natural correction in the market from high levels. In our view, large-cap stocks offer better reward-risk balance given more reasonable valuations versus lofty valuations of most mid- and small-cap stocks,” says <keyword id="66607" type="General" weightage="80" keywordseo="kotak-securities" source="Orion">Kotak Securities</keyword>. According to the brokerage firm, short term challenges include higher-for-longer interest rates, and weak domestic consumption. It also expects disruption across sectors as a medium term challenge. Going ahead, it sees value in BFSI stocks, while <keyword id="100578" type="General" weightage="80" keywordseo="sharekhan" source="Orion">Sharekhan</keyword> sees value in domestic upcycle themes, with a few others that can leverage greenshoots in the export market. “Investors should view the current market weaknesses as valuable buying opportunities for constructing a top-tier portfolio aimed at riding the multi-year economic upcycle in India and use the opportunity for wealth creation over the next few years. Corporate earnings are expected to grow at a CAGR of 15% for the next two years, with over 20% earnings growth anticipated in the BSE 200 over the same period,” says Sharekhan. Here are a few stocks picked across brokerages’ Diwali picks. Best of the best: Diwali picks with rocket-like returns <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"><colgroup></colgroup><col /><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Stock </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Upside </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Brokerage </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Power </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">43% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IDBI Capital </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Titagarh Rail </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">30% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">SBI Securities </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">JBM Auto </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">35% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Chola Securities </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IDFC First Bank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">37% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Anand Rathi </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Go Fashion </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">23% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">JM Financial </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sansera Engineering </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">43% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Monarch Networth Capital </td></tr></tbody></table> RIL rules, but DLF and small caps on the list too Most of the Diwali picks of stocks veered towards a good balance of large caps. But a few high performing small cap stocks such as RVNL, <keyword id="75435" type="General" weightage="80" keywordseo="gokaldas-exports" source="Orion">Gokaldas Exports</keyword>, <keyword id="19427151" type="General" weightage="80" keywordseo="garware-hitec" source="Orion">Garware Hitec</keyword>, <keyword id="14661372" type="General" weightage="80" keywordseo="syrma-sgs" source="Orion">Syrma SGS</keyword> made it to the pataka stock lists compiled across brokerages. The most common name across lists is Reliance Industries, as companies see good upside in the stock in the next few years. J M Financial says that RIL’s net debt concerns are overdone, and that it has industry leading capabilities across businesses to drive robust 14-15% earnings per share (EPS) compounded annual growth rate (CAGR) over the next 3-5 years. “Jio’s ARPU expected to rise at 10% CAGR over FY23-28 with ARPU being on a structural uptrend given the industry structure, future investment needs, and the need to avoid a duopoly market. Further, strong growth momentum continues in the company’s Retail business as RIL is driving omni-channel capabilities across segments,” the brokerage says. The next most common stock across Diwali picks is DLF. Even as Kolte Patil, Lodha and Godrej Properties were also picked as the real estate sector theme remained strong, this mega developer made it to three brokerages’ best picks. “DLF's strong leadership in the Delhi-NCR region, a vast residential project pipeline, a significant rental portfolio, ample land reserves with low carrying costs, and favourable market conditions create a promising environment for substantial growth,” said Anand Rathi. Banks were also part of each brokerage’s picks with Union Bank of India, ICICI Bank, Bank of India, Axis Bank making the cut. Most of them back defence and railway stocks as well like HAL, Titagarh Wagons and MTAR Technologies – all which have given good returns this year. Auto stocks like M&amp;M, TVS Motor, Tata Motors, Maruti and Ashok Leyland also rode into the Diwali picks, with a good mix of power and infrastructure stocks like Tata Power, Power Grid, BHEL and L&amp;T are expected to light-up portfolios on the day India will glow with the light of diyas.

Enter Samvat 2080 with these Diwali pataka stocks

<ul><li><keyword id="16442695" type="General" weightage="20" keywordseo="samvat-2080" source="Orion">Samvat 2080</keyword> which will come into effect on Diwali day, holds great promise, say analysts.</li><li>A few of them expect a rally based on the outcome of the 2024 <keyword id="43763" type="General" weightage="20" keywordseo="general-elections" source="Orion">general elections</keyword> next year.</li><li>Midcaps, which saw a good run in Samvat 2079, might see investment opportunities if the broad economy recovers. </li></ul>Never has there been a year ahead with as much promise as uncertainty. While rising bond yields, a war in the Middle East are global drag factors, India has a lot to look forward to in the upcoming Samvat 2080. The key factor is general elections to happen next year. Most analysts hope it will drive up benchmark indices to new heights. “The resilient Indian economy and good corporate earnings will attract big investment into the market. The bull case scenario is a flood of institutional money -- both domestic and foreign -- and a stable government triggering a big rally in the market taking the Nifty beyond 23,000 by next Samvat,” said V K Vijayakumar, chief investment strategist at Geojit Financial Services. In spite of global volatility, India remains in a favourable position for growth, which will drive Indian equities in the foreseeable future, says Pranav Haridasan, MD &amp; CEO, Axis Securities. “The improvement in the balance sheet strength of corporate India and the much-improved health of the Indian banking system are other positive attributes. They will ensure that Indian equities readily deliver double-digit returns in the next 2-3 years with the support of double-digit earnings growth,” adds Haridasan. The Samvat that was Samvat 2079 has not been too bad for equity investors — thanks to the bull run seen since April this year. Over the last 12 months, Nifty50 with 14.8% returns outperformed the MSCI EM index which saw 12% returns. The premiums were driven by stable macros, broad based earnings growth and robust banking and corporate sector health. Moreover, mid and small cap investors have a lot more to cheer about. Nifty Midcap 100 index went up by 22.7%, while Nifty Smallcap 250 went up by 28%. Large caps paled in comparison, with Nifty 100’s 4.3% returns in the last one year. Tata Mutual Fund’s equity view believes that there may be more investment opportunities as their headline valuations are in an acceptable zone. “Midcaps in a growing market with market leadership and low leverage may be considered on par with large caps. Broad-based economic recovery would also result in more investment opportunities in mid and small caps,” it added. But a possible election rally will be led by big companies, analysts predict. “Large-caps across sectors will lead the rally. The likely outperformers are financials, capital goods and automobiles,” said Vijayakumar. Most analysts also back banks, capital goods, manufacturing and pharma sectors, and negative on companies that are based on urban consumption and commodities. The <keyword id="102132" type="General" weightage="20" keywordseo="crude-oil-prices" source="Orion">crude oil prices</keyword> have been extremely volatile in the last few weeks oscillating between $88-96 per barrel in the last month and the Israel-Hamas war is adding more fuel to fire. Any downside movement can alter the valuations premiums of Indian markets in the upcoming Samvat that will start on the day of Diwali. SEE ALSO <a href="https://www.businessinsider.in/stock-market/news/enter-samvat-2080-with-these-diwali-pataka-stocks/articleshow/105058383.cms">Enter Samvat 2080 with these Diwali pataka stocks</a> <a href="https://www.businessinsider.in/business/news/foreign-brands-bet-big-on-bharats-bulging-wallets/articleshow/105071211.cms">Foreign brands bet big on Bharat’s bulging wallets</a>

Samvat 2080 holds promise of an election rally but crude could play spoilsport

The government has extended the deadline for filing <keyword id="6354679" type="General" weightage="100" keywordseo="gst" source="Orion">GST</keyword> returns for the month of September by a day to October 21, the CBIC said on Friday. On Thursday, taxpayers faced a slow functioning of the GST portal, which was the last date for filing monthly GST returns for some taxpayers. Following that, the <keyword id="12579914" type="General" weightage="50" keywordseo="central-board-of-indirect-taxes-and" source="Orion">Central Board of Indirect Taxes and</keyword> <keyword id="6360806" type="General" weightage="50" keywordseo="customs" source="Orion">Customs</keyword> (CBIC) said that an extension of the due date was being considered. "The GST Implementation Committee of GST Council has approved the extension of the due date of filing GSTR-3B return for the month of September 2022, for the monthly filers, from 20th October 2022 to 21st October 2022," the CBIC tweeted on Friday. Monthly return and tax payment form GSTR-3B is filed in a staggered manner between the 20th, 22nd, and 24th of each month by taxpayers in different states.GST Network (GSTN) provides the technology backend for running <keyword id="6359833" type="General" weightage="50" keywordseo="goods-and-services-tax" source="Orion">Goods and Services Tax</keyword> (GST). <keyword id="6354512" type="General" weightage="50" keywordseo="infosys" source="Orion">Infosys</keyword> is the service provider for GSTN. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/rupee-falls-12-paise-to-82-91-against-us-dollar/articleshow/95003236.cms">Rupee falls 12 paise to 82.91 against US dollar</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/if-you-are-looking-to-add-sparkle-to-your-portfolio-this-diwali-here-are-ten-stocks-for-samvat-2079/articleshow/95007121.cms">If you are looking to add sparkle to your portfolio this Diwali, here are ten stocks for Samvat 2079</a>

Govt extends deadline for filing September GST return till Oct 21

<ul><li>On Tuesday, <keyword id="6484188" type="General" weightage="20" keywordseo="sensex" source="Orion">Sensex</keyword> ended 287 points down at 59,543 while <keyword id="2931774" type="General" weightage="20" keywordseo="nifty50" source="Orion">Nifty50</keyword> closed 74 points lower at 17,656.</li><li>FMCG giants including Hindustan Unilever, Nestle India, Britannia Industries were some of the top losers on Nifty50.</li><li>While most FMCG firms delivered healthy Q2 earnings reports, companies are also wary of an inflationary environment.</li></ul>While Indian benchmark indices began the trade on a positive note, they ended in the red due to sell off in <keyword id="84065" type="General" weightage="20" keywordseo="fmcg-companies" source="Orion">FMCG companies</keyword> and persisting poor investor sentiment, fearing recession. On Tuesday, Sensex ended 287 points down at 59,543 while Nifty50 closed 74 points lower at 17,656. Today’s session put a break to the 7-day market rally seen which had persisted in spite of weak global trends. Meanwhile, in <keyword id="35189" type="General" weightage="20" keywordseo="asian-markets" source="Orion">Asian markets</keyword> -- Seoul, Shanghai and Hong Kong ended lower, while Tokyo closed higher. FMCG giants including Hindustan Unilever, Nestle India, Britannia Industries were some of the top losers on Nifty50 today. While most FMCG firms delivered healthy Q2 earnings reports, companies were wary of an inflationary environment. Last week, in September quarter earnings, <a href="https://www.businessinsider.in/business/corporates/news/huls-q2-net-profit-grows-20-to-2616-cr-says-its-cautiously-optimistic-in-the-near-term/articleshow/95014467.cms">HUL said that it remains cautious of inflation </a>impacting the demand environment and says it is ‘cautiously optimistic in the near-term’. Moreover, the fall in heavyweight Reliance Industries also dragged down the index. This comes after the Mukesh Ambani-led company, on October 21, <a href="https://www.businessinsider.in/business/corporates/news/reliance-reports-a-profit-decline-in-q2-even-as-revenue-surges-33-yoy/articleshow/95017302.cms">reported a marginal decline in its net profit </a>on a year-on-year basis. In a one-hour <keyword id="459249" type="General" weightage="20" keywordseo="muhurat-trading" source="Orion">Muhurat trading</keyword> session on Monday, which marks the beginning of Hindu Samvat year 2079, markets were trading in green as Sensex jumped more than 500 points. “Indian Indices ended in the positive in the Muhurat trading session in-line with most such sessions in the past. Investors hope that the positive sentiment could get carried into a new Samvat year despite some macro and global headwinds,” said Dhiraj Relli, MD &amp; CEO at HDFC Securities. On Monday, Foreign Institutional Investors (FIIs) offloaded shares worth ₹153.89 crore, as per exchange data. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"><colgroup></colgroup><col /><col /><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top losers </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">% change </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top gainers </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">% change </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Britannia Industries </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-2.81% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tech Mahindra </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3.32% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Kotak Mahindra Bank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-2.71% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Maruti Suzuki India </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.79% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hindustan Unilever </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-2.69% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">JSW Steel </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.33% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nestle India </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-2.64% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">L&amp;T </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.85% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Finserv </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-2.63% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Eicher Motors </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.67% </td></tr></tbody><tbody></tbody></table> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/air-quality-remains-very-poor-in-these-indian-cities-after-diwali/slidelist/95075634.cms">Air quality remains very poor in these Indian cities after Diwali</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/indias-it-giants-are-worried-about-moonlighting-employees-sharing-their-corporate-secrets/articleshow/95077652.cms">India’s IT giants are worried about moonlighting employees sharing their corporate secrets</a>

Markets snap 7-day rally to end in the red led by losses in FMCG giants, RIL

Streaming giant Netflix has clarified that '<keyword id="2328640" type="General" weightage="20" keywordseo="the-crown" source="Orion">The Crown</keyword>' is a fictional dramatisation for viewers by adding a logline to its YouTube trailer for Season 5, which is set to launch on November 9. In the description for the trailer, posted by the official Netflix account, the logline reads: "Inspired by real events, this fictional dramatisation tells the story of Queen Elizabeth II and the political and personal events that shaped her reign." A spokesperson for Netflix told Variety: "'The Crown' has always been presented as a drama based on historical events. Series five is a fictional dramatisation, imagining what could have happened behind closed doors during a significant decade for the Royal Family - one that has already been scrutinised and well documented by journalists, biographers and historians." The addition of the logline follows much discussion in the UK over whether viewers will perceive events in "The Crown" as absolute re-enactions of real events. The British press has reported that sources within Buckingham Palace are particularly worried about the show's depiction of <keyword id="15320858" type="General" weightage="20" keywordseo="King-Charles-affair-with-Camilla-Parker-Bowles" source="Orion">King Charles' affair with Camilla Parker-Bowles</keyword> while married to Diana, Princess of Wales, especially given that he has just acceded to the throne. Following Diana's death (which is set to be depicted in the sixth and final season of the series), Charles married Camilla. When he acceded to the throne last month, following the death of his mother Queen Elizabeth II, she became Queen Consort. Earlier this week Judi Dench wrote to The Times of London to complain that 'The Crown' should carry a disclaimer at the beginning of each episode, calling the series "cruelly unjust" to the Royal Family. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/if-you-are-looking-to-add-sparkle-to-your-portfolio-this-diwali-here-are-ten-stocks-for-samvat-2079/articleshow/95007121.cms">If you are looking to add sparkle to your portfolio this Diwali, here are ten stocks for Samvat 2079</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/article/best-time-to-buy-gold-on-dhanteras-day/articleshow/95002923.cms">Best time to buy gold on Dhanteras day</a>

The Crown is a fictional dramatisation, Netflix clarifies

<ul><li>Equity benchmarks began the trade on a positive note with the BSE <keyword id="6484188" type="General" weightage="80" keywordseo="sensex" source="Orion">Sensex</keyword> climbing over the 60,000 mark in early trade.</li><li>The 30-share BSE benchmark climbed 249.58 points to 60,081.24 in early trade.</li><li>The 30-share BSE benchmark climbed 249.58 points to 60,081.24 in early trade.</li></ul>Equity benchmarks began the trade on a positive note on Tuesday, with the BSE Sensex climbing over the 60,000 mark in early trade, in <keyword id="1264251" type="General" weightage="100" keywordseo="tandem" source="Orion">tandem</keyword> with firm global markets. The 30-share BSE benchmark climbed 249.58 points to 60,081.24 in early trade. On similar lines, the broader NSE Nifty advanced 80.75 points to 17,811.50. In the Sensex pack, Maruti, Dr Reddy's, ICICI Bank, <keyword id="6355596" type="General" weightage="50" keywordseo="ultratech-cement" source="Orion">UltraTech Cement</keyword>, Tata Steel, Mahindra &amp; Mahindra, Tech Mahindra and Larsen &amp; Toubro were among the major winners. IndusInd Bank, Nestle, Power Grid, <keyword id="6365619" type="General" weightage="50" keywordseo="hindustan-unilever" source="Orion">Hindustan Unilever</keyword> and <keyword id="85462" type="General" weightage="50" keywordseo="bajaj-finserv" source="Orion">Bajaj Finserv</keyword> were among the laggards. Elsewhere in Asia, markets in Seoul, Tokyo, Shanghai and Hong Kong were trading in the green. Wall Street had ended higher on Monday. In a special one-hour Muhurat trading session on Monday to mark the beginning of Hindu Samvat year 2079, the BSE benchmark jumped 524.51 points or 0.88 per cent to end at 59,831.66. The Nifty advanced 154.45 points, or 0.88 per cent, to finish at 17,730.75. International oil benchmark Brent crude was trading 0.25 per cent higher at USD 93.49 per barrel. Foreign Institutional Investors (FIIs) offloaded shares worth Rs 153.89 crore on Monday, as per exchange data. SEE ALSO: <a href="https://www.businessinsider.in/business/news/indias-defense-exports-touched-a-record-13000-crore-in-2021-22/articleshow/92850833.cms">India's defense exports surge to ₹13,000 crore — private companies beat govt</a> <a href="https://www.businessinsider.in/defense/news/made-in-india-lightweight-combat-helicopter/articleshow/94613836.cms">Here’s everything you need to know about the made-in-India lightweight combat helicopter</a>

Equity benchmarks trade higher in tandem with firm global markets

Equity benchmark indices managed to end in the positive territory after facing volatility in the latter part of the trade on Friday amid gains in Axis Bank and ICICI Bank. Foreign institutional investors (FIIs) turning net buyers in the market on Thursday after many sessions also added to the momentum. The 30-share BSE <keyword id="6484188" type="General" weightage="20" keywordseo="sensex" source="Orion">Sensex</keyword> ended 104.25 points or 0.18 per cent higher at 59,307.15, logging its sixth day of gains. During the day, it jumped 388.03 points or 0.65 per cent to 59,590.93. The broader NSE Nifty ended marginally higher by 12.35 points or 0.07 per cent at 17,576.30. From the Sensex pack, Axis Bank zoomed 8.96 per cent after the company on Thursday reported a 66.29 per cent jump in its consolidated net profit for the September quarter at Rs 5,625.25 crore, driven by a substantial decrease in bad loan provisions and margin expansion. The other major winners from the 30-share pack were ICICI Bank, Hindustan Unilever, Kotak Mahindra Bank, Nestle, Titan and UltraTech Cement. However, Bajaj Finance, Bajaj Finserv, IndusInd Bank and Larsen &amp; Toubro were among the laggards. In other <keyword id="35189" type="General" weightage="20" keywordseo="asian-markets" source="Orion">Asian markets</keyword>, Seoul, Tokyo and Hong Kong ended lower, while Shanghai closed with gains. Stock exchanges in Europe were trading lower in mid-session deals. Wall Street had ended lower on Thursday. International oil benchmark Brent crude was trading 0.37 per cent lower at USD 92.02 per barrel. Foreign institutional investors turned net buyers after many days as they bought shares worth Rs 1,864.79 crore on Thursday, as per exchange data. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/if-you-are-looking-to-add-sparkle-to-your-portfolio-this-diwali-here-are-ten-stocks-for-samvat-2079/articleshow/95007121.cms">If you are looking to add sparkle to your portfolio this Diwali, here are ten stocks for Samvat 2079</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/article/best-time-to-buy-gold-on-dhanteras-day/articleshow/95002923.cms">Best time to buy gold on Dhanteras day</a>

Sensex logs sixth consecutive day of gains amid uptick in banking stocks

<ul><li>The Access to Seeds Index 2021 <a href="https://www.worldbenchmarkingalliance.org/publication/access-to-seeds-index/wca/rankings/">ranks</a> <keyword id="201617" type="General" weightage="100" keywordseo="advanta" source="Orion">Advanta</keyword> as 4th in Africa and 2nd in South and <keyword id="53564" type="General" weightage="50" keywordseo="southeast-asia" source="Orion">Southeast Asia</keyword>. </li><li>Advanta focuses on sustainable <keyword id="6355165" type="General" weightage="20" keywordseo="agriculture" source="Orion">agriculture</keyword>, providing <keyword id="45092" type="General" weightage="20" keywordseo="farmers" source="Orion">farmers</keyword> with locally adapted quality hybrid seeds. </li><li>Upon completion of the transaction, Advanta will operate as a standalone platform. </li></ul>Private equity firm <keyword id="6354544" type="General" weightage="80" keywordseo="kkr" source="Orion">KKR</keyword> will invest $300 million for a 13.33% stake in Advanta Enterprises, a subsidiary of UPL – a global agriculture solutions provider, the companies said on Friday. Upon completion of the transaction, seed company Advanta will operate as a standalone platform; and aims to become a global sustainability leader in seeds. “We are pleased to invest in Advanta, a global leader in sustainable agriculture, at a time when food security has grown in importance amidst geopolitical tensions and climate change. Advanta has built a diversified platform with differentiated products and an excellent track record,” <keyword id="8569616" type="General" weightage="50" keywordseo="gaurav-trehan" source="Orion">Gaurav Trehan</keyword>, Partner and CEO of KKR India, said. The investment comes at a time when food production is facing structural challenges due to geopolitical disruption, rising population, reduction of arable land, declining productivity and climate change. Advanta focuses on sustainable agriculture, providing farmers with locally adapted quality hybrid seeds. It has presence in 84 countries across <keyword id="21718" type="General" weightage="50" keywordseo="asia" source="Orion">Asia</keyword>, Australia, <keyword id="28249" type="General" weightage="50" keywordseo="europe" source="Orion">Europe</keyword>, United States and Latin America, and Africa. “Today, Advanta is a leading player in sustainable agriculture solutions, benefitting the livelihoods of farmers globally. As sustainable <keyword id="6386447" type="General" weightage="20" keywordseo="farming" source="Orion">farming</keyword> practices increase in priority around the world, Advanta is well poised for its next leg of robust growth,” Jai Shroff, group CEO of UPL, said. The Access to Seeds Index <a href="https://www.worldbenchmarkingalliance.org/publication/access-to-seeds-index/wca/rankings/">2021</a>, which measures the efforts of seed companies to boost productivity of smallholder farmers, ranks Advanta as 4th in Africa and 2nd in South and Southeast Asia. KKR will make its investment from its global Impact strategy, which invests in businesses delivering solutions to address critical global challenges, and contributing towards the UN Sustainable Development Goals. As of December 31, 2021, KKR has committed over $25 billion in equity globally to climate and environmental sustainability investments, the statement said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/rishi-sunak-may-get-a-second-chance-to-run-for-uks-premiership-heres-all-you-need-to-know-about-him/slidelist/95010029.cms">Rishi Sunak may get a second chance to run for UK’s premiership: Here’s all you need to know about him</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/if-you-are-looking-to-add-sparkle-to-your-portfolio-this-diwali-here-are-ten-stocks-for-samvat-2079/articleshow/95007121.cms">If you are looking to add sparkle to your portfolio this Diwali, here are ten stocks for Samvat 2079</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/defense/news/defense-expo-2022-a-big-step-towards-self-reliance-in-defense-with-a-new-tank-gun-system-and-more/articleshow/95006121.cms">Defense Expo 2022: A big step towards self-reliance in defense with a new tank, gun system, and more</a>

KKR invests $300 million in UPL subsidiary Advanta for a 13.33% stake

<ul><li>India’s largest telecom operator, <keyword id="6354504" type="General" weightage="20" keywordseo="reliance-jio" source="Orion">Reliance Jio</keyword>, on Friday announced its September 2022 quarter results.</li><li>Jio’s average revenue per user rose marginally to ₹177.2 in the second quarter of FY23 from ₹175.7 in the previous quarter.</li><li>Jio said that it plans to complete its pan-India 5G rollout by December 2023.</li></ul>India’s largest telecom provider, Reliance Jio announced its September quarter results showing profit growth of 4% sequentially at ₹4,729 crore increasing from ₹4,530 crore in the previous quarter. On a yearly basis, its profit surged by nearly 27%. Its revenue from operations also witnessed a mere 4% sequential growth increasing to ₹28,506 crore as compared to ₹27,527 crore in the quarter before. On a year-on-year basis, this is an increase of nearly 23%. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"><colgroup></colgroup><col /><col /><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Particulars </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q2 FY23 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q1 FY23 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q2 FY22 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Revenue </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹28,506 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹27,527 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹23,222 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Net profit </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹4,729 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹4,530 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹3,728 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ARPU </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹177.2 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹175.7 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹143.6 </td></tr></tbody></table> While its new subscriber addition slowed down, the average revenue per user (ARPU) marginally improved due to better seasonality and improving subscriber mix, the company said. Jio reported ARPU at ₹177.2 per subscriber per month, witnessing a mere 0.8% growth on a sequential basis and 23.5% growth on a yearly basis. <a href="https://www.businessinsider.in/business/telecom/news/telecom-sector-to-ring-in-stability-in-q2-jio-and-airtel-expected-to-grow-stronger-vi-weaker/articleshow/94709309.cms">Analysts had expected a moderate growth </a>in ARPU and weakness in subscriber additions compared with the previous two quarters as tariff hike benefits are largely behind it. <div type="image" title="Copy of Jio ARPU Q1 FY23" height="900" width="1200" msid="95017744" hostid="261" sizebytes="51951"></div> Reliance Jio added 7.7 million net subscribers as compared to 10 million in the previous quarter. With this, its total customer base as on September 30, 2022 stood at 427.6 million. <div type="image" title="Copy of Jio subscribers + net addition Q1 FY23" height="900" width="1200" msid="95017748" hostid="261" sizebytes="83181"></div> Jio aims to complete its pan India 5G rollout by December 2023 Currently, Reliance Jio is in the process of network deployments across the country for 5G services. Earlier this month, it announced that it begin beta trial of its 5G services in four cities of Delhi, Mumbai, Kolkata and Varanasi. In the results release, it informed the target to complete its pan India 5G rollout by December 2023. “We saw consistent net subscriber additions and higher engagement in the Digital Services segment. Jio has announced beta trials for its industry-leading standalone 5G services and is making rapid progress for an ambitious and the fastest ever roll out of True 5G on pan-India basis,” said Mukesh D Ambani, chairman and MD at Reliance Industries. Ahead of its earnings announcement, shares of RIL closed 1.22% lower at ₹2,470 apiece. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/huls-q2-net-profit-grows-20-to-2616-cr-says-its-cautiously-optimistic-in-the-near-term/articleshow/95014467.cms">HUL’s Q2 net profit grows 20% to ₹2,616 cr; says it’s cautiously optimistic in the near-term</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/if-you-are-looking-to-add-sparkle-to-your-portfolio-this-diwali-here-are-ten-stocks-for-samvat-2079/articleshow/95007121.cms">If you are looking to add sparkle to your portfolio this Diwali, here are ten stocks for Samvat 2079</a>

Reliance Jio reports 4% profit growth in Q2 – subscriber addition, ARPU growth slows down

<ul><li>HUL’s margin has been hit in the quarter due to commodity inflation, as predicted by analysts.</li><li>The FMCG giant said that it’s ‘cautiously optimistic in the near-term’.</li><li>Shares of HUL closed 1.99% higher on Friday at ₹2,652 on expectations of strong quarterly earnings.</li><li>The company declared an interim dividend of ₹17 per share.</li></ul>The largest FMCG player Hindustan Unilever’s standalone net profit grew by 19.6% to ₹2,616 crore for the September quarter, from ₹2,187 crore in the same quarter last year. Revenue from operations of the company rose nearly 16% on year to ₹14,751 crore. “Growth was significantly ahead of the market with more than 75% of the business winning value and volume market shares. EBITDA margin at 23.3% remained healthy despite unprecedented inflationary headwinds,” said the company in an exchange statement. HUL’s margin has been hit in the second quarter due to commodity inflation, as analysts had predicted. Its EBIDTA margins for the quarter were at 23.2% down from 24.6% reported in the same quarter last year. Further, the FMCG giant remains cautious of inflation impacting the demand environment and says it is ‘cautiously optimistic in the near-term’. “Demand environment remains challenging with inflation impacting consumption. However, with softening in some commodities and monetary/ fiscal measures taken by the government, we are cautiously optimistic in the near-term. In this scenario, we will manage our business with agility, continue to grow our consumer franchise whilst maintaining our margins in a healthy range,” said Sanjiv Mehta, CEO and MF at Hindustan Unilever. “We remain confident of the medium to long term potential of the Indian FMCG sector and HUL’s ability to deliver a consistent, competitive, profitable and responsible growth,” he added. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"><colgroup></colgroup><col /><col /><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Particulars </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Revenue </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Net profit </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">EBITDA Margin </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q2 FY23 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹14,751 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2,616 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">23.2% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q2 FY22 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹12,724 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2,187 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">24.6% </td></tr></tbody></table>The company has declared an interim dividend of ₹17 per share. Shares of HUL closed 1.99% higher on Friday at ₹2,652 on expectations of strong quarterly earnings. Double digit performance in home care, beauty segment During the second quarter of the fiscal year, the company delivered 34% growth in the home care segment. Both fabric wash and household care grew in high double-digits with all parts of the portfolio performing well. Surf Excel Matic Power Concentrate and Comfort Sweet Dreams were launched during the quarter. Beauty and personal care space grew 11% led by outperformance in the premium portfolio like Lux, Dove and Pears. Its hair care segment strengthened its market leadership, with strong broad-based performance, the company said. Meanwhile, foods and refreshments which includes brands like Knorr, Kissan, BRU, Kwality Wall’s grew 4% driven by solid performance in foods, coffee and ice-cream. Tea business’ volumes grew in mid-single digit while turnover declined marginally due to price cuts. Coffee continues to perform well delivering double-digit growth. Health Food Drinks continued to gain market share and penetration on the back of focused market development actions. Horlicks seeded new formats Nutri Gummies and Diabetes Gummies. Kwality Wall’s launched new flavours and Kissan launched Hazelnut Choco Peanut Butter. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/rishi-sunak-may-get-a-second-chance-to-run-for-uks-premiership-heres-all-you-need-to-know-about-him/slidelist/95010029.cms">Rishi Sunak may get a second chance to run for UK’s premiership: Here’s all you need to know about him</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/if-you-are-looking-to-add-sparkle-to-your-portfolio-this-diwali-here-are-ten-stocks-for-samvat-2079/articleshow/95007121.cms">If you are looking to add sparkle to your portfolio this Diwali, here are ten stocks for Samvat 2079</a>

HUL’s Q2 net profit grows 20% to ₹2,616 cr; says it’s cautiously optimistic in the near-term

Equity MF flows more than double in September as investors buy the dip – ICICI Bank is the MF darling

<ul><li>Oil-to-data giant <keyword id="6355199" type="General" weightage="50" keywordseo="reliance-industries" source="Orion">Reliance Industries</keyword> today reported a marginal decline in its net profit even as its revenue surged over 33% year-on-year.</li><li><keyword id="10926" type="General" weightage="100" keywordseo="reliance" source="Orion">Reliance</keyword>’s retail segment continued to perform healthy while the O2C business reported growth primarily on account of higher crude oil prices.</li><li>The telecom business remained steady with a growth of 3.4%, in line with analyst expectations.</li></ul>Mukesh Ambani-led Reliance Industries today reported marginal decline in its net profit on a year-on-year basis despite strong performance in its refining and retail segments, while its telecom business Jio reported a modest 3% sequential growth. Reliance reported total revenue of ₹2.32 lakh crore during the September quarter, up 33.7% YoY and net profit of ₹13,656 crore, a decline of 0.2% in the same period. On a sequential basis, the revenue increased 4.4% while profit fell 24%. Reliance’s O2C business came close to the revenue generated in the previous quarter – at ₹1,59,671 crore, it fell short of its Q1 revenue by a little over 1%. Q1 was the strongest quarter ever for the company’s O2C business. Its contribution to Reliance’s overall revenue remained healthy, at a little over 68%, marginally down from 72% in the previous quarter. Price volatility and weak downstream margins had an impact on the O2C segment’s EBITDA margins – on a YoY basis, O2C segment’s EBITDA fell 5.9% to ₹11,968 crore, from ₹12,720 crore. The sequential decline was far worse at 39.8%, down from ₹19,888 crore. In its exchange filing, Reliance said the decline in O2C EBITDA was primarily on account of special additional excise duty, which accounted for ₹4,039 crore. Here’s Reliance Industries’ Q2 in numbers: <table style="border-width: initial; border-style: none;"><colgroup></colgroup><col /><col /><col /><col /><tbody><tr><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Particulars </td><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q2 FY23 </td><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q1 FY23 </td><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q2 FY22 </td></tr><tr><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Revenue </td><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2,32,863 crore </td><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2,23,113 crore </td><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,74,104 crore </td></tr><tr><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Net profit </td><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹13,656 crore </td><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹17,955 crore </td><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹13,680 crore </td></tr><tr><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Net margin </td><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5.9% </td><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">8% </td><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">7.90% </td></tr></tbody></table> Source: Company reports “Performance of our O2C business reflects subdued demand and weak margin environment across downstream chemical products. Transportation fuel margins were better than last year but significantly lower sequentially. Segment performance was also impacted by the introduction of special additional excise duties during the quarter to ensure stable supply and lower volatility in the domestic market,” said <keyword id="3820" type="General" weightage="50" keywordseo="mukesh-ambani" source="Orion">Mukesh Ambani</keyword>, chairman and managing director, Reliance Industries. Finance costs continue to put a lid on the company’s overall performance, with an increase of 19.2% YoY to ₹4,554 crore – something that a previous <a href="https://www.businessinsider.in/business/corporates/news/tatas-to-ambanis-adanis-and-birlas-fortunes-of-these-high-debt-companies-could-change-after-rate-hikes/articleshow/92126846.cms">Business Insider India report highlighted</a> could soon become a problem for high-debt companies. <cmsannotation type="cmsannotation" annotationid="Retail business continues to beat inflation woes" comment="subhead" text="Retail business continues to beat inflation woes">Retail business continues to beat inflation woes</cmsannotation> Reliance’s retail segment delivered healthy growth even as inflation continues to be a problem for many. The retail segment reported a 44.5% YoY growth in revenue to ₹57,694 crore, while also improving its margins during this period. However, it did witness a marginal decline in margins sequentially from 7.6% to 7.4%. Overall, though, since the retail segment’s revenues surged both sequentially and YoY, the EBITDA was higher in absolute terms at ₹4,404 crore. “Our Retail business delivered record performance with strong revival in footfalls, store additions and digital integration,” Ambani said. Reliance also announced that the retail segment’s area of operation has increased to 54.5 million square feet, up from 37.3 million square feet last year. The company opened 795 new stores during the quarter, taking its total operational stores to 16,617. <cmsannotation type="cmsannotation" annotationid="Jio delivers modest growth in profit, ARPU and subscribers" comment="subhead" text="Jio delivers modest growth in profit, ARPU and subscribers">Jio delivers modest growth in profit, ARPU and subscribers</cmsannotation> The company’s telecom arm, <keyword id="6354504" type="General" weightage="50" keywordseo="reliance-jio" source="Orion">Reliance Jio</keyword> posted a modest 4.4% sequential increase in its net profit after a moderate June quarter, in line with<a href="https://www.businessinsider.in/business/telecom/news/telecom-sector-to-ring-in-stability-in-q2-jio-and-airtel-expected-to-grow-stronger-vi-weaker/articleshow/94709309.cms"> analyst expectations</a>. The largest telco in India added 7.7 million new subscribers to its network, while its average revenue per user saw a moderate increase of 0.9% to ₹177.2 from ₹175.7 in the previous quarter. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/if-you-are-looking-to-add-sparkle-to-your-portfolio-this-diwali-here-are-ten-stocks-for-samvat-2079/articleshow/95007121.cms">If you are looking to add sparkle to your portfolio this Diwali, here are ten stocks for Samvat 2079</a> <a href="https://www.businessinsider.in/personal-finance/news/should-you-buy-gold-this-dhanteras/articleshow/94997439.cms">Should you buy gold this Dhanteras?</a> <a href="https://www.businessinsider.in/stock-market/news/sensex-logs-sixth-consecutive-day-of-gains-amid-uptick-in-banking-stocks/articleshow/95012115.cms">Sensex logs sixth consecutive day of gains amid uptick in banking stocks</a>

Reliance reports a profit decline in Q2 even as revenue surges 33% YoY

<ul><li>Diwali is a popular south Asian festival tracing its origin back to 2,500 years, signifying ‘victory of good over evil’. </li><li>New York Mayor Eric Adams declared Diwali will be a public holiday in the city starting 2023. </li><li>Growing popular cultural references of Diwali are a reflection of the increasing importance of Indians in global cinema and politics.</li></ul>Indian immigration to the United States began in the 19th century but it was only in 2009 when the first Diwali diya was lit in the Oval office by the then US President Barack Obama. Since then, the festival of lights is fast becoming mainstream in countries like the US with depictions on popular shows. Immigration brings with it unique customs and traditions of a country and Diwali, the festival of lights, is one of them, tracing its origin 2,500 years back. Sparkling crackers, the chaos of family get-togethers and the fervour over competing Rangolis – all form part of <keyword id="3405" type="General" weightage="20" keywordseo="diwali-celebrations" source="Orion">Diwali celebrations</keyword>. “When Michelle and I visited India, we were able to join in the Diwali festivities with some wonderful children in Mumbai. It was a reminder of the traditions we share, across continents and cultures,” said <a href="https://obamawhitehouse.archives.gov/blog/2015/11/10/president-obama-happy-diwali#:~:text=In%202009%2C%20President%20Obama%20was,community%20and%20across%20the%20world.">Obama</a>, referring to the official visit the couple made in India during 2015. Diwali is not only celebrated in India but is an important south Asian festival celebrated in Indonesia, Malaysia, Fiji, Nepal, Guyana, Sri Lanka, Thailand and Mauritius. The origin stories may be different but all signify victory of good over evil, light over darkness. In the US, the Hindu American<a href="https://www.hinduamerican.org/hindu-heritage-month"> Foundation</a> has been leading efforts to popularise Indian culture and festivals. It has led efforts to identify October as the Hindu Heritage Month – due to the birth of Mahatma Gandhi and is often the month when the festivals of <keyword id="48284" type="General" weightage="80" keywordseo="navratri" source="Orion">Navratri</keyword> and Diwali are celebrated. The ‘state’ of Diwali parties in the US The mainstreaming of key Indian festivals like Diwali and Dussehra (the tenth day of Navratri) is a reflection of the growing clout of Indian Americans in the US. Today, over 130 Indian-Americans hold key positions in the administration of US President Joe <a href="https://timesofindia.indiatimes.com/world/us/record-over-130-indian-americans-at-key-positions-in-us-president-joe-biden-administration/articleshow/93741817.cms">Biden</a>. In America alone there are 40 <a href="https://www.dnaindia.com/analysis/report-dna-special-india-s-diwali-goes-global-2918553">lakh</a> Indian origin citizens, who have contributed vastly to the American economy by being top doctors, engineers and entrepreneurs. President Biden has plans for a Diwali party in the White House on October<a href="https://www.outlookindia.com/international/biden-to-celebrate-diwali-at-white-house-on-october-24-trump-at-mar-a-lago-on-october-21-news-229253"> 24</a> with US Vice President <keyword id="180909" type="General" weightage="80" keywordseo="kamala-harris" source="Orion">Kamala Harris</keyword> and her husband. Former US President Donald Trump will also be celebrating Diwali at his Mar-a-Lago resort in Florida today. The Secretary of State <a href="https://www.businessinsider.in/international/news/diwali-celebrations-begin-at-times-square-vp-kamala-harris-and-former-prez-donald-trump-to-attend/articleshow/95001470.cms">Tony Blinken</a> is hosting another Diwali party at the State Department with the diplomatic community on October 26. On Friday, New York Mayor Eric Adams declared Diwali will be a public holiday in the city schools starting 2023. “This is an educational moment because when we acknowledge Diwali, we are going to encourage children to learn about Diwali. We're going to have them start talking about what it is to celebrate the festival of lights, and how to turn the light on within yourself,” Adams said. The 11th Grand International Diwali-Dussehra Festival was celebrated in Houston on October 17, attracting 10,000 people. It also involved consul generals of 15 countries in the Dussehra parade. With November elections approaching in the US, candidates like Bete O'Rourke could also be spotted at the parade. Statues of Ram, Hanuman, Kumbhakaran, Meghnad and Ravan could also be <a href="https://www.businessinsider.in/international/news/diwali-dussehra-festival-celebration-attracts-over-10000-in-houston/articleshow/94921328.cms">seen</a>. The US also introduced a bill in the parliament last <a href="https://www.dnaindia.com/analysis/report-dna-special-india-s-diwali-goes-global-2918553">year</a>, proposing how Diwali should be considered a public holiday. In Canada, Prime Minister Justin <a href="https://twitter.com/JustinTrudeau/status/1583230092112953344">Trudeau</a> visited the Cedar Hills School today and made small clay Diyas with children ahead of Diwali. Growing pop culture references, ‘lit Diwali’ parties The increasing brightness of Diwali across the globe is also due to the rise of Indo-American diaspora and mentions across pop culture. Diwali parties across Los Angeles have been a way of vocalising the presence of Indian colours and customs. Actress Priyanka Chopra with husband Nick Jonas also threw a party in Los Angeles celebrating Indian<a href="https://www.hindustantimes.com/entertainment/bollywood/inside-nick-jonas-priyanka-chopra-s-diwali-bash-couple-s-la-home-lights-up-with-fireworks-joe-jonas-joins-celebrations-101636104693939.html"> traditions</a>. “My beautiful wife has introduced me to so many wonderful Indian holidays and traditions. My heart is so full to be able to share this with our friends and family,” said Nick Jonas. Last year, Youtuber Lilly Singh hosted a grand diwali party, which was attended by the who’s who of the Indian-American film community – <keyword id="1041057" type="General" weightage="80" keywordseo="mindy-kaling" source="Orion">Mindy Kaling</keyword>, Tyra Banks, Tesher, <keyword id="966769" type="General" weightage="80" keywordseo="kunal-nayyar" source="Orion">Kunal Nayyar</keyword>, <keyword id="695094" type="General" weightage="80" keywordseo="poorna-jagannathan" source="Orion">Poorna Jagannathan</keyword>, Deepika Mutyala, Radhi Devluka-Shetty, Indira Varma, Meena Harris and Kal <a href="https://www.cosmopolitan.in/celebrity/features/g25763/heres-what-went-down-lily-singhs-fun-filled-hollywood-diwali-celebration#slide-12">Penn</a> to name a few. In 2019, Indian actor Kunal Nayyar who played Indian nerd Raj in Big Bang Theory announced his <a href="https://timesofindia.indiatimes.com/tv/news/english/kunal-nayyar-celebrates-diwali-in-india-makes-instagram-comeback/articleshow/71816705.cms">comeback</a> to Instagram with celebrations of Diwali in India. American comic Mindy Kaling’s Diwali party in L.A last year celebrated the achievements of South Asian <a href="https://www.vogue.com/slideshow/mindy-kaling-celebrated-diwali-by-honoring-inspiring-women">women</a>. Kaling’s Diwali party for her The Office staff inspired the episode “Diwali” which aired in 2006. The episode even featured Steve Carell singing “The Diwali song” and calling it “The Hindu Halloween”. Not just The Office, there are depictions of Diwali in And Just Like That – a reboot of American drama series Sex and the City – where <keyword id="12148992" type="General" weightage="80" keywordseo="sarah-jessica-parker" source="Orion">Sarah Jessica Parker</keyword> dons a sari and goes Diwali shopping with her realtor turned friend Seema. Despite criticisms of cultural <a href="https://twitter.com/pewcubed/status/1479880460910084110?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1479880460910084110%7Ctwgr%5E9c87be1b8f1dc22a2857c141222b2f9f4549e61d%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fwww.indiatimes.com%2Fentertainment%2Foriginals%2Ffans-reactions-to-diwali-satc-reboot-episode-558874.html">appropriation</a> that the episode attracted, the popularity and reach of the show meant that ultimately it was a victory for the festival of lights. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/if-you-are-looking-to-add-sparkle-to-your-portfolio-this-diwali-here-are-ten-stocks-for-samvat-2079/articleshow/95007121.cms">If you are looking to add sparkle to your portfolio this Diwali, here are ten stocks for Samvat 2079</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/rishi-sunak-may-get-a-second-chance-to-run-for-uks-premiership-heres-all-you-need-to-know-about-him/slidelist/95010029.cms">Rishi Sunak may get a second chance to run for UK’s premiership: Here’s all you need to know about him</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/article/best-time-to-buy-gold-on-dhanteras-day/articleshow/95002923.cms">Best time to buy gold on Dhanteras day</a>

You Searched For "Samvat 2079" and got 15 results

Sensex, Nifty sparkle as Samvat 2079 begins on auspicious note

PTI

If you are looking to add sparkle to your portfolio this Diwali, here are ten stocks for Samvat 2079

Bhakti Makwana

Enter Samvat 2080 with these Diwali pataka stocks

Katya Naidu

Samvat 2080 holds promise of an election rally but crude could play spoilsport

Katya Naidu

Govt extends deadline for filing September GST return till Oct 21

PTI

Markets snap 7-day rally to end in the red led by losses in FMCG giants, RIL

Bhakti Makwana

The Crown is a fictional dramatisation, Netflix clarifies

IANS

Equity benchmarks trade higher in tandem with firm global markets

PTI

Sensex logs sixth consecutive day of gains amid uptick in banking stocks

PTI

KKR invests $300 million in UPL subsidiary Advanta for a 13.33% stake

Eetika Kapoor

Reliance Jio reports 4% profit growth in Q2 – subscriber addition, ARPU growth slows down

Bhakti

Rounak

HUL’s Q2 net profit grows 20% to ₹2,616 cr; says it’s cautiously optimistic in the near-term

Bhakti Makwana

Equity MF flows more than double in September as investors buy the dip – ICICI Bank is the MF darling

Rounak

Bhakti

Reliance reports a profit decline in Q2 even as revenue surges 33% YoY

Rounak Jain

Diwali is becoming a global celebration and cementing Indian identity globally

Eetika Kapoor